MGM, CBS Chiefs' SPAC Takes Off With $430M In-Flight Deal

Law360, New York (November 9, 2012, 8:18 PM EST) -- A fund founded by former Metro-Goldwyn-Mayer Studios Inc. Chairman Harry Sloan and CBS Corp. entertainment chief Jeff Sagansky on Thursday closed a $430 million deal to create a new in-flight entertainment group, beating by three months a deadline to return $190 million to investors.

Global Eagle Acquisition Corp. will acquire Row 44 Inc., a privately held broadband company that serves airlines, and approximately 86 percent of Frankfurt-listed entertainment group Advanced Inflight Alliance AG, the company said in a statement.

"By combining AIA's access to the installed in-flight entertainment market with Row 44's WiFi to mobile device capability, Global Eagle has potential...

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